Decision issued to regulate OTC transactions

The Ministry of Finance issued Decision No 108/2008/QD-BTC on November 20, regulating the trading of unlisted securities at the Ha Noi Securities Trading Centre (HASTC), otherwise known as the “over-the-counter” (OTC) market.

Investors will be offered special incentives to develop accommodations for workers in industrial parks.

Investors will be offered special incentives to develop accommodations for workers in industrial parks, under a draft strategy formulated by the Ministry of Planning and Investment’s Central Institute for Economic Management.

The proposed incentives, which would apply to both domestic and foreign investors without discrimination, include exemption of land rent, reduction of corporate income tax (CIT) and access to soft loans and Government financial support for site clearance.

For instance, investors who provide accommodation for industrial park workers would be entitled to pay CIT at a rate of 10 per cent for 15 years. In addition, they would be exempt from the tax altogether for the first four years, and enjoy a 50-per-cent reduction in tax liability for the subsequent nine years.

The draft strategy has been sent to the Prime Minister for approval. It would also require provincial-level People’s Committees to plan suitable sites for developing housing for industrial park workers.

(Source: Viet Nam News)

Update from: http://english.vietnamnet.vn//biz/2008/12/816749/